Overview

Project stage

Only a whitepaper

Detailed description

MONET is an open network architecture, materialized by a set of software tools and protocols, designed to address this matter.

It's building a free and open-source Software Development Kit (SDK) which enables developers to add blockchain consensus to their applications. It introduces a new paradigm whereby users dynamically join or form local blockchains for the duration of their interaction, and eliminates the need for servers. Ephemeral by nature, these mobile ad hoc networks only exist for the duration of a group’s activity; following this temporary collaboration, participants are not required to stay online to support other users. The SDK implements the Babble consensus system which is particularly suited for mobile deployments due to its low messaging complexity.

Problem

The three challenges for mobile P2P applications are:

Peer-discovery: Supporting the discovery of local peers in a network where nodes may come and go.

Mobility: Maintaining a mapping between identities and public IP ad- dresses as peers roam around and change IP realms.

NAT traversal: Working effectively even as nodes are located between multiple layers of NAT.

Solution

The MONET Hub is an always on master blockchain that provides infrastructure services for the first applications on the network. It is composed of multiple independent nodes operated by a group of validators engaged in a Proof of Stake consensus mechanism. Each node runs an instance of the Ethereum Virtual Machine (EVM) coupled with Babble, where Smart Contracts can be deployed to provide services such as peer-discovery, ID directories, financial ledgers, lightclients for other blockchains, and much more. Each validator also operates STUN and TURN servers to facilitate NAT traversal.

The Hub is implemented on a blockchain, rather than privately operated servers, because this affirms MONET’s decentralised nature; it is a distributed and faulttolerant network with no single point of failure. Anyone can become a validator on the MONET hub, provided they participate in the consensus algorithm and the Smart Contract layer. Moreover, anyone is free to create their own hub or deploy any other solution to support their applications.

Features

The key components of MONET architecture are:

Multiple ephemeral blockchains dynamically formed by users with their mobile devices;

Inter-Blockchain Communication, enabling these blockchains to speak to one another;

MONET Hub, an always-on network, that provides optional infrastructure services to the first applications and ad hoc blockchains.

Bringing it together:

MONET creates an infrastructure for distributed mobile p2p applications. Its architecture aims to power the sharing economy by bringing blockchains to mobile.

Additional links

Token details

Token symbol
? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. :

Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : NA

Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :NA

Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA

Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :NA

Total supply ? Total supply — a total amount of tokens that will be released by the developers. :NA

Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No

Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :NA

Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Open(Start Jul 12, 2018)

Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No

Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA

Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :NA

Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No

Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes

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